Earnings: Economy may catch up with Amazon

American Technology Research expects Amazon to reduce its guidance, as consumer confidence catches up with the online retailer, according to a StreetInsider report.

In other words, AmTech says that Amazon is not immune to the macro-economy.

More than half — 50.31 percent — of the mutual funds that own Amazon have been selling the shares, according to Mutual Fund Facts About Individual Stocks. At Overstock.com, 60 percent of mutual fund managers are selling the stock. At Ebay, 52.2 percent of mutual funds are selling.

In recent days, Ebay has come under fire for not growing as fast as it used to.

Seattle securities analyst Dan Geiman predicts that Amazon sales growth will slow because a “deteriorating consumer environment will catch up to AMZN, echoing recent comments from Google suggest that online spending is softening; and the fact that year-over-year comparisons are considerably more challenging in the second half of the year.”

Geiman works for McAdams Wright Ragen, a securities research firm that has a hold rating on Amazon’s stock.